3-26 could be claimed and the standard deduction that the taxpayer is enticled to take in...
Question 11 Not yet answered Joe, age 65, and his wife, JoAnne, age 64, maintain a home for their unmarried daughter, age 23, who earned $4,000 and attends college on a part-time basis. Joe and JoAnne contributed $6,000 toward her support. Joe and JoAnne file a joint return. Can Joe and JoAnne claim the daughter as a dependent? Points out of 1.00 P Flag question Select one: O a. No O b. Yes Clear my choice Question 12 Not yet...
Determine the appropriate number of Qualified Dependents for the following taxpayer: T) is unmarried and supports his son and his son's wife, both of whom lived with him for the entire year. His son and daughter-in-law (both age 20) file a joint return to get a full refund, as their gross income was $3,500. Both son and daughter-in-law are full-time students at a local college. QUESTION 2 Identify the best Filing Status for the following taxpayer: Ted is divorced and...
Self-Study Problem 1.6 Indicate in each of the following situations whether the taxpayer has a dependent in 2018. 1. Betty and Bob, a married couple, had a new baby in See Appendix E for Solutions to Self-Study Problems Yes No December 2018. 2. Charlie, age 25, supports his 26-year-old brother, who is not a full-time student. His brother lives with Charlie all year. His brother's gross income is $4,500 from a partime job. 3, Donna and her sister support their...
Self-Study Problem 1.6 Indicate in each of the following situations whether the taxpayer has a dependent in 2018. Yes or No 1. Betty and Bob, a married couple, had a new baby in December 2018. Yes 2. Charlie, age 25, supports his 26-year-old brother, who is not a full-time student. His brother lives with Charlie all year. His brother’s gross income is $4,500 from a part-time job. 3. Donna and her sister support their mother and provide 60% of her...
Indicate whether the taxpayer would be entitled to file using the head-of-household rate schedule. Y is divorced from her husband. She maintains a home in which she and her 10-year-old son live. Her ex-husband pays child support to her that she used to provide all of the support for the child. In addition, Y has relinquished her right to claim her son as a dependent to her former spouse. C is divorced from his wife. He provides 75% of the...
Required: Determine the amount of the standard deduction for each of the following taxpayers for tax year 2019: a. Christina, who is single. b. Adrian and Carol, who are filing a joint return. Their son is blind. c. Peter and Elizabeth, who are married and file separate tax returns. Elizabeth will itemize her deductions. d. Karen, who earned $1,100 working a part-time job. She can be claimed as a dependent by her parents. e. Rodolfo, who is over 65 and...
Compute the 2019 standard deduction for the following taxpayers. a. Ellie is 15 and claimed as a dependent by her parents. She reports $1,700 in dividends income and $1,880 in wages from a part-time job. $ b. Ruby and Woody are married and file a joint tax return. Ruby is age 66, and Woody is 69. Their taxable retirement income is $12,170. $ c. Shonda is age 68 and single. She is claimed by her daughter as a dependent. Her...
Which of the following individuals qualifies as a dependent of John Smith? A 20-year-old son who earned $4,900 during the Christmas season but was unemployed the remainder of the year. He was supported by John Smith A 10-year-old cousin living with John Smith’s parents but supported by John Smith A seven-year-old orphan (not adopted by John Smith) who has lived in his home the entire year and has been supported by him A 25-year-old married daughter who filed a joint...
Determine the amount of the standard deduction for each of the following taxpayers for tax year 2019: Christina, who is single. Adrian and Carol, who are filing a joint return. Their son is blind. Peter and Elizabeth, who are married and file separate tax returns. Elizabeth will itemize her deductions. Karen, who earned $1,100 working a part-time job. She can be claimed as a dependent by her parents. Rodolfo, who is over 65 and is single. Bernard, who is a...
1. Peter and Susan Dillon are married and have two children: Paul, age 22 and a full-time student during the entire year and Mary, age 18. Paul has $6,000 in taxable interest income and Mary has $5,000 in taxable dividend income. Peter and Susan provide over half of the support of both children, who live at home. Neither child is married. Which of the following statements is true? a. Paul qualifies as a dependent of the Dillons b. Mary qualifies...